According to a new market research report published by Acute Market Reports “Product Lifecycle Management Consumer Packaged Goods and Retail (PLM CP&R) Market (Technology- Formula Design and Management, Laboratory Information Management, Artwork & Labeling, CAD/CAM/CAE, Simulation & Test, PDM/cPDM/PLM, eCAD/EDA, Application Lifecycle Management, Digital Manufacturing/Plant Simulation, MOM:(MES, Quality, Advanced Planning & Scheduling), iOT (Consumer and Industrial), RAD), (Deployment Type (Enterprise, SaaS, and Cloud), End-use- (Consumer Goods, Retail, Consumer Packaged Goods and Apparel, Footwear & Accessories) – Growth, Future Prospects and Competitive Analysis, 2023 - 2030”, the overall product lifecycle management consumer packaged goods and retail (PLM CP&R) market worldwide was valued at US$ 2.79 Bn in 2021 and is set to grow with a CAGR of 10.9% during the forecast period.

Market Insights

Penetration of product lifecycle management software and automation in consumer goods industry worldwide are the major factors driving the growth of the PLM CP&R market. Growth of consumer electronics industry is one of the promising factors for the market growth. In 2021, consumer electronics market was estimated at around US$ 335.0 Bn and will continue its growth at a CAGR of nearly 5% in years to come. Growing demand of consumer packaged goods & retail (CP&R) is also key driver for the market growth. Wide application of the PLM in retail, footwear, consumer goods and others is also one of the major key growth driving factor. Thus, we presume that the PLM CP&R market will show huge growth throughout the estimate period.

Based on end-use, we segmented the PLM CP&R market into Consumer Goods, Retail, Consumer Packaged Goods and Apparel, Footwear & Accessories. The retail segment has its dominance in 2021 and contributes nearly 35% of the market revenue share in the same year. Growing retail industry worldwide is the major reason for the growth of the segment. Nowadays, retail companies are focusing on enhancing brand equity and development of retail stores, which will help the segment to grow. We expect that the global retail industry will grow at a CAGR of nearly 5.4% in years to come, which will help the segment growth. As a result of aforementioned factors, we expect that the retail segment will led the market throughout the estimate period.

Based on the geography, in 2021, North America has the largest share in PLM CP&R market. North America contributes around 1/3 of the world revenue share in the same year. Early adoption of technology, shift towards Factory 4.0 and established retail & consumer goods industry are the major growth driving factors for the market. On the other hand, we expect that Asia Pacific will be the fastest growing region during the forecast period. Growth of retail & consumer goods industry, and rising disposable income are the major factors for the market growth in Asia Pacific. Therefore, we estimate that Asia Pacific will be the fastest growing region throughout the forecast period.

Some of the major companies profiled in the report include Accenture plc, IBM Corporation, Oracle Corporation, SAP SE, Dassault Systèmes SE, Autodesk, Inc., Hewlett-Packard Company, Cisco Systems, Inc., 10ZiG Technology, Acer Inc., Gerber Scientific, Inc. and Advantech Co., Ltd. among others.

Browse the full report at https://www.acutemarketreports.com/report/product-lifecycle-management-consumer-packaged-goods-and-retail-market

The Global Product Lifecycle Management Consumer Packaged Goods and Retail (PLM CP&R) Market is Segmented into:

*Complete segmentation list is on report page